April 29, 2020 / 4:30 AM / a month ago

SE Asia Stocks-Tick up on easing restrictions; Fed decision in focus

    * Thai stocks hit highest since March 9
    * Telecoms lift Indonesia, Singapore

    By Nikhil Subba
    April 29 (Reuters) - Southeast Asian stock markets edged
higher on Wednesday, as investors cheered easing coronavirus
curbs in some parts of the world while awaiting preliminary
estimate for first-quarter U.S. economic growth and the Federal
Reserve's policy decision.
    Oil prices gained as U.S. stockpiles rose less than expected
and on expectations demand will pick up as some European
countries and U.S. cities moved to ease lockdowns.
    Market participants are now looking for any guidance from
the Fed, which is due to issue a policy statement at the close
of its two-day meeting later in the day. The advanced estimate
is expected to provide a glimpse into the impact of coronavirus.
The European Central Bank meets on Thursday.    
    "With the U.S. Federal Reserve meeting and the advanced Q1
U.S. GDP estimates expected during the U.S. trading day, the
Asian session will likely remain in a wait-and-see mode,' Mizuho
analysts said in a note.
    In Southeast Asia, Thai shares rose as much as 0.9%
to their highest since March 9. Hana Microelectronics
firmed 5.6% to its highest since April 20, while Thai Oil
 gained about 2%.    
    Indonesian stocks strengthened about 0.6%, with
information technology company Metrodata Electronics
jumping 7.2%, while Telekomunikasi Indonesia (Persero)
advanced 4.4% to a two-week high.
    The government may sell around 425 trillion rupiah ($27.71
billion) of bonds to the market in the rest of 2020 to cover its
widening fiscal deficit, the central bank governor said.
     
    Malaysian shares gained as much as 0.5%, helped by
consumer and basic material stocks. Genting Malaysia
climbed more than 4%, while Petronas Chemicals Group
gained about 3%.    
    Singapore shares climbed more than 0.5% to their
highest since April 21, helped by financial and telecom stocks.
    DBS Group rose 0.6%, while Singapore
Telecommunications advanced 1.4% to a near two-week
high.
        
For Asian Companies click;  

SOUTHEAST ASIAN STOCK MARKETS AS AT 0331 GMT    
    
  Change on the day                                             
  Market               Current      Previous close  Pct Move
  Singapore            2569.61      2562.95         0.26
  Bangkok              1282.88      1274.99         0.62
  Manila               5591.58      5574.98         0.30
  Jakarta              4543.591     4529.554        0.31
  Kuala Lumpur         1377.96      1372.2          0.42
 Ho Chi Minh           771.92       767.21          0.61
                                                    
  Change so far in                                  
 2020                                               
  Market               Current      End 2019        Pct Move
  Singapore            2569.61      3222.83         -20.27
  Bangkok              1282.88      1579.84         -18.80
  Manila               5591.58      7,815.26        -28.45
  Jakarta              4543.591     6,299.54        -27.87
  Kuala Lumpur         1377.96      1588.76         -13.27
  Ho Chi Minh          771.92       960.99          -19.67
 
 (Reporting by Nikhil Subba in Bengaluru; Editing by Subhranshu
Sahu)
  
Nuestros Estándares:Los principios Thomson Reuters
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